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206 Spring Street, New York...

Harkham Family Acquires Mixed-Use Building In SoHo For $10.5M
SOLDMixed-use

Harkham Family Acquires Mixed-Use Building In SoHo For $10.5M

206 Spring Street, New York City, New York 10012, United States

$10,500,000

$846/SF

Building Size

12,400 SF

Asset Type

Mixed-use

Closing

Mar 22, 2022

AI

A mixed-use property located at 206 Spring Street in the SoHo market has been sold for a total price of $10,500,000. The property spans 12,400 square feet, resulting in a price per square foot of $846. The transaction took place on 03/23/2022 between the Harkham Family as the buyer and Corigin as the seller. The deal was facilitated by brokers James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild from Avison Young.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $10,500,000
  • Address: 206 Spring Street
  • Market: SoHo
  • Buyer: Harkham Family
  • Seller: Corigin
  • Brokers: James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild - Avison Young
  • Square Footage: 12,400
  • Price per Square Foot: $846

The sale of this mixed-use property showcases the involvement of key individuals and companies in the transaction. Buyers, the Harkham Family, made the purchase from sellers, Corigin, with the assistance of brokers James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild from Avison Young.

Players

Eric Karmitz

Avison Young

Broker

$806.6M

vol

36 deals

Broker

Harkham Family

Buyer

$357.4M

vol

8 deals

Buyer
Corigin Real Estate
Corigin Real EstateSeller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.51%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93